Yep.. me saw it too !!
I was near the ground - and i could see that it was a 747, it was low enough for me to see that. When i saw it, it was around 70nm West of BN and heading towards brisbane - and getting lower. I could not tell you if it was dumping fuel, however the trail that it left, streched for miles across the sky - i would have a guess at 10nm long trail it left !!! There were not any transmissions on my area freq...
Was certainly a sight that i had never seen before, as always - a camera was not close by...
Anyhow - thats my 2 cents worth.....